There are pros and cons to this site. First of all, if you're thinking since it downloads software it downloads malware, you're wrong. It's a safe download, and if you have any trouble downloading there's plenty of help to be found. As for the benefits of this site, it's a very good learning experience for your children. They learn about business and buying/selling, they learn how to create games with the easy to find and very detailed game creation tutorials and scripting tutorials, putting them on the path to learning programming languages (The one used in this site is called ROBLOX Lua, it's excellent), and they learn about how to keep and stick to a budget. There's the option to upgrade your account to Builder's Club, and there are plenty of features to be used with this. However, the site also has some flaws. It's very easy for younger children to end up on phishing sites from bot-accounts made by the owners of those sites. Before allowing your child to make an account, make sure they are aware of web-safety and how to keep their account from being stolen. If your child is educated on web safety (Which they should be educated on before being allowed to browse the internet), there are no concerns.
This is very informative. I heard about Roblox years ago, but thought it was something more of Lego creator or Minecraft platform. Never expected how much it has been established with a huge following and continues to grow with higher risks as you mentioned of bot-accounts. Now that I have a kid of my own at the younger age group, I feel more involved in monitoring his online activities especially virtual learning education during this current situation. Technology has gone a long way in improving but still you do have some participants that seem to like to cause trouble especially in a variety of gaming platforms. Eventually the young generation will get exposure to such content which can even get bypassed from monitoring filters. At the same time, I am also looking for such opportunities which can develop some creativity and even create his own game. Thank you for your feedback.